Govt Intensifies Efforts to Unlock $8 Trillion Mineral Wealth Through New Projects
*March 18, 2025*
*By Monitoring Desk*
ISLAMABAD: The Pakistani government has ramped up initiatives to harness the country’s vast untapped mineral resources, valued at approximately **$8 trillion**, in a bid to attract domestic and international investment and transform the sector into a cornerstone of economic growth.
During a recent federal cabinet briefing, officials highlighted updated estimates of Pakistan’s mineral wealth, now pegged at **$8 trillion**, up from earlier projections of $6 trillion. The focus remains on Balochistan, home to several high-potential projects, including the landmark **Reko Diq copper-gold mine**, which is slated to commence operations by 2028. Revived through a partnership with Canada’s Barrick Gold, the project is projected to generate **$74 billion in free cash flow** over its 37-year lifespan.
### **Key Developments in the Mineral Sector**
1. **Strategic Partnerships**:
- Five additional mineral projects, including copper blocks in Chagai and smelting ventures, have been earmarked for UAE investment.
- The **Siah Dik copper mining project** in Balochistan, awarded to China Metallurgical Group Corporation (CMGC), will operate as a private-sector Export Processing Zone (EPZ), focusing on copper concentrate extraction and processing.
2. **Infrastructure Boost**:
- A dedicated **rail network linking Gwadar Port to Chagai** is under development to streamline access to mineral-rich zones and enhance export logistics.
3. **Employment and GDP Impact**:
- The mineral sector currently employs **300,000 people** and contributes **1% to Pakistan’s GDP**.
- Community development programs and skill-building initiatives are being rolled out to uplift local populations in mining regions.
### **Upcoming Mineral Conference**
A high-profile conference scheduled for next month will showcase Pakistan’s mineral resources to global investors, with a focus on fostering partnerships and unlocking the sector’s $8 trillion potential.
### **Challenges and Opportunities**
While Balochistan’s Reko Diq and Saindak projects remain central to growth, the government faces challenges in ensuring equitable resource distribution and addressing infrastructural gaps. Officials emphasized that transparency and international collaboration will be critical to achieving long-term gains.
*— With input from The Express Tribune*
**About the Monitoring Desk**: Our team curates top-tier business and economic news, delivering concise and impactful updates to keep you informed.
اردو
